Jul 21

Plastics Weekly: Israel’s Bazan Promotes Plastics Recycling

Editorial Staff
Apr 6, 2022
plastics weekly

Welcome to the Plastics Weekly, NEO’s regular news monitoring of the plastics industry.

Every week, we publish a roundup of the top developments in plastics and sustainability – from regulatory changes to company news.

Latest highlights:

  • Israel’s largest refinery and petrochemicals group, Bazan, reached a series of deals to promote plastic recycling. The company bought a recycled-plastics producer and has partnered to build two recycling plants to reach a target of using 15% recycled plastics by 2025. Bazan and its partners will build a facility that will process up to 10,000 tons of household plastic waste a year, along with a more advanced plant for chemical recycling. (Reuters)
  • BASF Venture Capital GmbH, the corporate venture company of BASF Group, has invested in Oceanworks, a U.S.-based sustainable plastic solutions provider that brings traceability and transparency through digitalization to recycled plastics. The move is part of BASF’s commitment to developing sustainable solutions to promote the transition towards a circular economy. (ChemEurope)
  • Taxes on plastics are increasingly driving new environmental policies. While international agencies have traditionally overseen efforts to minimize the carbon footprint, today that approach is narrowing, with states using tax policy to regulate the production, use/re-use, and disposal of plastics. (Bloomberg)
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